Bill Summary – FastDemocracy

   
      87(R) HB 3404 - Introduced version - Bill Text
      
		By:  Guillen
            H.B.  No.  3404
         
               A BILL TO BE ENTITLED
            
               AN ACT
            
            relating to the repeal of the franchise tax.
         
                          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         
                          SECTION  1.    Effective January 1, 2022, Chapter 171, Tax 
         
            Code, is repealed.
         
                          SECTION  2.    The change in law made by Section 1 of this Act 
         
            does not affect tax liability accruing before the effective date of 
         
            that section.  That liability continues in effect as if this Act had 
         
            not been enacted, and the former law is continued in effect for the 
         
            collection of taxes due and for civil and criminal enforcement of 
         
            the liability for those taxes.
         
                          SECTION  3.    Except as otherwise provided by this Act, this 
         
            Act takes effect September 1, 2021.



	A BILL TO BE ENTITLED
	AN ACT
	relating to the repeal of the franchise tax.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION 1. Effective January 1, 2022, Chapter 171, Tax
	Code, is repealed.
	SECTION 2. The change in law made by Section 1 of this Act
	does not affect tax liability accruing before the effective date of
	that section. That liability continues in effect as if this Act had
	not been enacted, and the former law is continued in effect for the
	collection of taxes due and for civil and criminal enforcement of
	the liability for those taxes.
	SECTION 3. Except as otherwise provided by this Act, this
	Act takes effect September 1, 2021.